Ethereum’s Price Plunge Aggravated with a Recent 4.43% Fall

• Ethereum loses 4.43% to touch 169 USD.
• The next support for ETH may come by 167 USD and 165 USD.

Ethereum price has struggled hard to initiate recovery but to the dismay of investors, it has again taken a shift to lose 4.43% over the last 24 hours. The three price swings have been in the range between 177 USD and 167 USD. The overall price trend is on a downward slope as of now.

Ethereum Price Analysis:

Ethereum (ETH) opened the day with a value of around 177 USD and in the next 8 hours and 45 minutes, it was down to 172 USD after a 2.5% cut. The next variation happened between 11:15 UTC and 19:00 UTC and this swing pushed the value to 167.96 USD, marking the lowest point for the day. It was followed by a hike of 1.11% over the next 7 hours and it went to add 1.86 USD to the value that brought the final trading value of ETH to USD to 169.82 USD.

The market cap also has taken a hit in this period. The current market cap has been down to 18.54 billion USD from 18.69 billion USD. The market cap of ETH has been on a downfall since 04^th October.

The current price trend has merged with the 50-day and 20-day moving average and as per the latest data, the 20-day average is going well above its 50-day average. However, as per the ETH coin price prediction, the volatility is likely to sustain for some more days. The next support for Ethereum may come at 167 USD.